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Show SU- - QF U m Mimm LIBRARY CITY I Features Mining, OU, Financial ' VeL 24, No. 32 .f & - fl Salt Lake City, Utah, August 7, 1953 7 One Tear 9&SO i, New Strike At Clayton Causes Stir Salt Lake City Stock Exchangetily Transactions Naildriver JULY 1953 High LISTED STOCKS Low Sales Last Sale Big Hill. Bonanza Oil & Mng-Bristol Silver Bullion Cardiff Central Std. Park Park Park Park Chief Con. Clayton Silver Con. ' Colorado Co lb. Rexall Combined Metals Comet Coaln - T- So. : Standard Oil United Park City Utah Con. Utah Id. Sug. Com. Utah Ida. Sug. Pfd. .. Utah-WyCon. OU Victor Con. xTrans-Unio- n . o. ... Kentucky-Uta- h Western Alloys West Toledo Wilbert Yankee Con. Zuma UNLISTED STOCKS Amal. Sug. Pfd. Utah Fire Clay Utah P. & L. Com. & Mammoth Miller Hill ... Miners Gold xMono Kearsarge Indicates operating companies TOTAL SIIARES . Data To Be Released By Atomic.. Unit TRADED-673,5- 82 Includes Vital Mine Topics Metal and Nonmetallic for the The 21-2- 4, Drilling Plan Approved For Deer Trail - Other posting localities include Denver Exploration Branch, AEC, Denver' Federal Center, Denver, Hot Springs Suboffice, Colo.; AEC, Hot Springs, S. D.; Grand Junction Operations Office, AEC, Grand Junction, Colo.; Grants Suboffice, AEC, Grants, N. M., and Salt Lake Exploration Branch, AEC, Salt Lake City, Utah. , f .32 .28 WALLACE, Idaho Rumors of a new ore strike at Clayton Silver Mines property in Custer County, which last week caused a brief flurry of excitement in Spokane and district market circles, are attributable to a doubtlessly .03 .03 small stope of high-grad- e silver .05 .04 ore which is now in production, Vorman M. Smith, directing en.07 .08 gineer, told the Wallace Miner on .01 .01 his return from a visit to the mine last week. 2.12 2.07 The stope is not exactly a new .8 .07 he said, nor is it of sufdiscovery, .41 .45 ficient size to have any great af.03 .05 fect upon cc.ipany income. It .01 .02 does, howeve . provide a source of sweetenir for the ordinary mill feed froi : the north ore body that is parti olarly welcome un.14 .14 der present lead and zinc market .01 .03 conditions, he added. Die rich ore lies just south of the north ore body in an extension of the hangingwaU of the .93 .97 shearing in which the north ore .06 .08 It body is found, he explained. 1.62 1.80 a of 30 for about length persists feet and averages about three feet in width. An unusual characteristic of the .26 .30 ore occurrence is the fact that it contains a considerable amount of siderite with silver values in tetra-hedrit.02 .02 a type of mineralization .05 .07 not previously found in significant amounts, in the Clayton mine. .27 .30 Some of the values are in silver-ric- h galena ore. Average grade of the ore shoot has not been determined since it is milled along with regular tonnage from the main s topes. Some indication of the grade and varia52 odds tion in the ore however, is shown iii i i in samples, assays of hand-picke- d from One the he stated. sample DOLLAR VALUE $92,302.62 face assayed 278.8 ounces of silver and 3.0 per cent lead per ton. Another sample from the back ran 48.7 per cent lead and 43.7 ounces of silver per ton. The stope is being advanced upward as crews are available and appears to be extending farther to the east on its upward projection. Smith said. Stope production runs ony about 100 tons per month, he Net sales of The Eagle-Pichadded. Company and domestic subsiditime efforts at the aries for the first six months of At the present are concentrated largethe 1953 fiscal year were the larg- property Broken ore in on production. ly half-yeest for any first in the will north the the stope keep companys history; and net profit, mill big two for or three supplied inbefore and after provision for more years. come taxes, was higher than for Further development work on the corresponding 1952 period. the new 550 level will not be started until fall, Smith stated. Continued on Page 4 The shaft must be deepened another 70 feet or so to provide adequate sump and pocket room before crosscutting toward the main Week ending Aug. 1, 1953 ore bodies is started. Clayton BINGHAM DISTRICT, UTAH Silver is listed on the Salt Lake.-stocCombined Metals Reduction Co, . ' exchange. 220 tons. .20 i Program For AMC Convention Eagle Picker 1953 Mining Convenprogram tion of the American Mining Congress, scheduled to be held at Sewill feature special panel discussion of public attle, Wash., Sept To assist search for uranium- lands matters, tariff policies and mine taxation in which leading bearing ores, the U. S. Atomic members of Congress will participate. The convention program will Energy Commission, announced a policy of publicity releasing in- highlight such other important manformation concerning the location topics as labor relations, mobilof surface areas of high radioac- power, progress in defense national mineral policies, tivity that have been found by air- ization, for . minerals, gold, horizons new borne detection instruments. silver and monetary problems, the ' Release of this information is by plight of the strategic mineral inthe posting of location maps at dustries, uranium mining and its specified localities. Two addition- future, and many mine and mill MARYSVALE, Utah At the al government installations have operating developments. of Deer Trail Mines a meeting Slated to participate in the panel been selected as posting localities. program for diamond drilling was Starting on Aug. 15, 1953, and on the 15th day of each following ' month (or the first succeeding workday if the 15th falls on a Saturday, Sunday or a Federal holiday), index maps will be posted simultaneously at noon, Mountain Standard Time, at the U. S. Atomic Energy Commission buying stations at Monti cello, Utah, and Ship Rock, N. M. .35 .03 i ZCMI Moscow Mt. States Dev. .38 .3 .06 e, Williston Basin Oil ; Oil & Oil Majestic Mng. . xMountain View Premier Sundance Oil Co Swansea Con. ... Tar Baby Tintic Central ... Tintic Lead . Tintic Standard ... Great Western Horn Silver Howell Indian Queen Kennebec 1.10 .52 - Sioux Mines 'So. Iron Blossom Eureka Standard . Keystone 'Lakeside Mon. xl.eonora Little May Madison Mines Magnolia Lead Konold Nelson .. xPrince Con. xProsper Oil & Mng. Rico Argentine Royston Coaln. Silver King West . Silver Shield Silver Standard, --- .52 .08 1.20 .26 Plutus ; Crescent Eagle Croff Oil Crown Point Dragon E. Crown Point r East Standard E. Tin. Coaln xEast Utah xEmpire Mines Eureka Bullion' Eureka Lilly Con. Eureka Mines Gold Chain Grand Dep. City Con. Plumbic Mines Commonwlth Lead Cons. Eureka Oil & Mng. Nev-Ta- h i discussion of public lands matters are such prominent members of Congress as Senator Henry C. Continued on Page 2 New Mining Lows D. C. WASHINGTON, The American Mining Congress takes a dim view of proposed legislation to tighten up laws dealing with mining claims in national forests. B. Holbrook, Salt Raymond Lake City attorney representing the Mining Congress, said present mining laws have stood the test of time and are adequate to prevent abuses of mining claims. The bill would limit claims to minerals and the the amount of timber needed in the mining operations. sub-surfa- ce adopted, the drilling to be done at the 3400 foot area where Dr. Paul F. Kerr of Columbia University discovered a small amount of U308 last year. Dr. Kerr agreed to locate the spots at which the holes were to be drilled in this area of the uranium showing. Some 3000 feet of core drilling is planned. Deer Trail Mines will buy a diamond drill rig and do the work at its own expense. Dr. Kerr and the AEC will make radioactive and assay tests in this area exploration work. Roads are being built for six landings. A new contract was let to churn drill the airhole with a hole at the 4650-fostation for on the lead ore lead-uraniu- m 12-in- ch ot Continued on Page 2 Shows Again In Earnings er ar Ore Shipments U. S. Mines 4044 tons. Utah Copper (Kennecott) 960 Investigation cars, daily average. PARK CITY DISTRICT, UTAH ator WASHINGTON, D. New Park Mining Co. 1430 McCarthy has announctons. ed that his Senate investigating EUREKA DISTRICT-UT- AH subcommittee may visit some of Chief Consolidated ore concen- file mining states soon in a new trates 46 cars. investigation of the defense stockDragon Consolidated clay 25 piling program. cars. He said he has information that bad planning has made this counEmpire Mines ore 2 cars. PIOCHE DISTRICT, NEVADA try dependent on foreign suppliers Combined Metals Reduction of defense minerals and has ruinzinc concentrates 4 cars. Lead ed some U. S. mines which once concentrates 2 cars. Perlite 8 produced the same minerals. He cars. Manganese 4 cars. Crude declined to say what minerals he has in mind, ori.what stales the manganese nodules 4 cars. J. A. Hogle k Co., Mining Dept. subcommittee might visit. , 85-to- n C.-en- (R-Wi- s.) ' |